Taking the marketing function global is no easy task. It requires managers to think globally and strategically about global markets and comparative marketing environments. International markets pose the challenge of differing political, social, economic, and technological environments. Regional and national differences may render some marketing strategies and tactics ineffectual in new environments.
Identifying opportunities in the global environment requires market research and analysis that spans national boundaries. Segmentation, targeting, and positioning strategies of multinational firm must look for the commonalities across markets as well as take into account the idiosyncrasies of individual markets. It is in this context that the 4Ps (product, price, place, and promotion) are implemented. This book examines the 4Ps and gives students tools for analyzing the pros and cons of related international marketing decisions. The individual decisions of the marketer have to be examined holistically. Coordination, design, and control of marketing across markets and functions are, thus, critical.
Recent years were accentuated by a rise of new technologies, such as social media, and new attention to social responsibility and ethics in corporate leadership. This book captures these new developments by adding a Technology in Focus boxed feature in many chapters, and by dedicating chapters to the subjects of social responsibility, ethics, and social media in global marketing.
